Legal Risk Management, Governance and Compliance

A Guide to Best Practice from Leading Experts

Edited by Stuart Weinstein, Charles Wild

Publication date:

01 May 2013

Length of book:

480 pages

Publisher

Globe Law and Business

Dimensions:

240x160mm
6x10"

ISBN-13: 9781905783946

In today’s globalised business environment, companies face a complex assortment of new and often contradictory laws and regulations. High-profile corporate scandals involving compliance failures teach us that loss of reputation can have a significant, if not fatal, effect on a company. International companies recognise this and invest heavily in systems designed to detect and prevent compliance breaches. However, such systems and controls cannot succeed without the development of a strong compliance culture that secures buy-in from executives, managers, employees, contractors and business partners all at levels. This title offers cutting edge know-how and guidance for the development and management of a sophisticated legal risk management and compliance operation. While identifying risks and regulatory challenges, chapters also explore how professionals can manage processes; implement change; track issues and loss events; screen potential clients, partners, employees and contractors; and implement appropriate remediation. The book features chapters on board structures, corporate governance, fraud and bribery, Sarbanes-Oxley requirements, European capital markets regulation, arbitration and mediation, data protection, offshoring and the cloud, human resources issues for managers, and managing legal risk in China. Legal Risk Management, Governance and Compliance is a must-have desk reference for in-house corporate counsel and compliance officers, individuals involved in the compliance, audit, legal and risk functions within companies and non-profit organisations, as well as the law firms that service these organisations’ needs.

Foreword 7 Lord David Gold Preface 9 Stuart Weinstein Charles Wild University of Hertfordshire Part I: Legal risk management Developing the right formula for successful legal risk management, governance and compliance 11 Stuart Weinstein Charles Wild University of Hertfordshire The transformation of general counsel: setting the strategic legal agenda 45 Constance E Bagley Yale University Mark Roellig Massachusetts Mutual Life Insurance Company Using alternative dispute resolution as a tool for containing legal risk 67 Wolf Juergen von Kumberg Northrop Grumman Stuart Weinstein Charles Wild University of Hertfordshire Legal risk management and governance in the financial world 111 Boris Georg Hallik DekaBank Part II: Governance An international overview of board structures 125 Jan M Eickelberg Peter Ries Berlin School of Economics and Law Sarbanes-Oxley requirements and the implementation of US corporate governance controls – an overview for non-US corporates 145 Zabihollah Rezaee University of Memphis Risk management and the board of directors: lessons to be learned from UBS 165 Roger Barker Institute of Directors Stuart Weinstein Charles Wild University of Hertfordshire Understanding the role of the independent director in family-controlled listed enterprises 187 Richard L Narva Corporate social responsibility 201 Richard Smerdon CHH Corporate Governance Handbook ‘Tone at the top’ and corporate governance 129 Peter Giblin Cass Business School Part III: Compliance Bribery and corruption The Foreign Corrupt Practices Act: compliance to protect business clients globally 229 Aaron Schildhaus Law Offices of Aaron Schildhaus The rising tide of a new international phenomenon: carbon-copy prosecutions 247 Andrew S Boutros United States Attorney’s Office for the Northern District of Illinois T Markus Funk Perkins Coie LLP The Bribery Act 2010 273 Paul Feldberg Willkie Farr & Gallagher LLP Ian Leist QC Fulcrum Chambers LLP Health, safety and environment Issues relating to health, safety and environment practice 295 Jon Cooper Bond Pearce LLP Human resources Human resources issues for managers 315 Marjorie Hurwitz Bremner Berg Kaprow Lewis LLP Thushara Polpitiye Astute HR Ltd Information systems Data privacy: data transfers, offshoring and the cloud 351 Hazel Grant Mark Watts Bristows Corporate information risk management 377 Rita Esen University of Northumbria International risks Managing legal risks in China 393 Fang Ma University of Hertfordshire Process management controls Third parties, agents and supply chain due diligence 409 David Curran Risk Readiness Corporation Wolf Juergen von Kumberg Northrop Grumman Peter Mancusi Weber Shandwick Implementing compliance management systems: an organisational learning process 419 Lutz-Ulrich Haack German Graduate School of Management and Law, Heilbronn Robert Nothhelfer Former head of GRC Lidl International University of Freiburg, Asperg Regulated industries – the financial sector European debt capital markets regulation in the context of retail market risks 431 Ferdinando Bruno University of Lugano, Switzerland Fraud within the banking sector 453 Nikolay Dobrev University of Liverpool About the authors 469

Outside advisers, in-house counsel, or indeed auditors or managers charged in any way with implementing enlightened compliance procedures within their organisations, will welcome the practical and erudite guidance provided by this book.